Macro
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month values ▾
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -0.40 | -0.40 | -0.82 | -0.88 | -0.50 | -0.50 | -0.50 | -0.50 | -0.85 | -0.58 | -0.40 | -0.40 |
The tech sector is deeply negative this month, weighed down by severe demand destruction and inventory mismanagement, exemplified by Cisco’s $2.2 billion write-off and steep job cuts. The Nasdaq’s collapse to near 1,638, a 68% drop from its peak, underscores a broader collapse in investor confidence and valuation reset across technology. These events reflect structural challenges, not isolated missteps, reinforcing a pessimistic near-term outlook.
How this mood is scored ▾
Cisco Systems announced a $2.2 billion inventory write-off and an increase in workforce reductions to 8,500 employees amid declining demand and macroeconomic challenges. The move, part of broader cost-cutting including facility closures, will result in a $800M–$1.2B charge and signals continued weakness in enterprise and service provider markets, with flat revenue expected next quarter, negatively impacting investor sentiment and market outlook for the networking sector.
The biggest computer-industry merger ever was announced into a collapsing PC market, and HP shares dropped nearly 20% on the news. The deal sparked a landmark proxy fight with the Hewlett family over consolidation strategy.